Re7 cbBTC
RE7CBBTC
Evaluation Score
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Dimension Breakdown
AI Analysis
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RE7CBBTC (Re7 cbBTC) is an ERC-4626 vault share token representing deposits in the Re7 cbBTC Vault on Morpho, curated by London-based Re7 Labs. The product offers automated, leveraged cbBTC yield strategies backed 1:1 by Coinbase's custodial wrapped Bitcoin. The team at Re7 Capital is public and credentialed, providing institutional curation without documented security failures or historical exploits. However, the token exhibits major structural limitations: an extremely small holder base (only 6 addresses), negligible secondary trading liquidity, complete absence of community governance or forums, and heavy reliance on centralized custodial mechanisms from Coinbase cbBTC. Note on data gap: The Security and Audit History section scored -1.0 due to insufficient independent source data regarding specific vault audits, contract verification, or token-level history; its 15% weight was redistributed proportionally across the remaining five sections. No qualifying red-flag events were established.
Development Activity
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Tokenomics
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Market & Use Case
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Team & Governance
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Security & Audits
Security history and audit status
About Re7 cbBTC (RE7CBBTC)
RE7CBBTC (Re7 cbBTC) is an ERC-4626 vault share token operating on the Ethereum blockchain. It represents user deposits in the Re7 cbBTC Vault on the Morpho lending protocol, curated by London-based crypto-asset investment firm Re7 Labs (Re7 Capital). The vault is designed to generate automated, leveraged yield strategies on cbBTC, a wrapped Bitcoin asset issued by Coinbase that is backed 1:1 by Bitcoin held in Coinbase custody.
The token employs a demand-driven supply mechanism tied directly to vault deposits and withdrawals, without independent token inflation or token vesting schedules. RE7CBBTC does not confer governance or voting rights to token holders, as all vault allocation and parameter adjustments are handled centrally by Re7 Labs. Onchain adoption remains very low, with the token held by approximately six addresses and demonstrating negligible secondary market trading activity.
While the vault has no documented history of security exploits, smart contract hacks, or depeg events, third-party audit reports specific to the RE7CBBTC vault contracts are not documented in available records. Furthermore, the token carries structural dependencies and centralization risks related to the underlying cbBTC asset, which is subject to centralized Coinbase custody without onchain Proof of Reserve disclosures and includes administrative controls to freeze balances.